Calculate your ETEAEP supplementary pension in Greece. Based on 3.5% employee contribution on insurable earnings and the notional-accounts accumulation method.
Enter your monthly earnings, contribution years, and assumed credited return to estimate your ETEAEP supplementary pension at retirement.
Estimated monthly supplementary pension
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Monthly contribution (employee)
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Accumulated notional capital
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Annual supplementary pension
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Replacement rate (on earnings)
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Your breakdown
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How the ETEAEP notional accounts system works in Greece
Under Law 4387/2016, ETEAEP switched to a notional defined-contribution (NDC) model. Contributions flow into a virtual account for each insured person, credited with an annual return set by the government. The system is not truly funded but mimics individual savings accounts, giving workers a clear link between contributions paid and pension received.
Example calculation
A worker earning 1,500 EUR/month contributes 52.50 EUR/month to ETEAEP. Over 25 years with a 1.5% credited return, the notional account grows to approximately 19,200 EUR. Divided by the 240-month annuity factor, the monthly supplementary pension is around 80 EUR. This sits on top of the EFKA main pension.
Tips and considerations
The supplementary pension is modest compared to the main pension. Supplementing it with private savings or a private pension plan (third pillar) is advisable, especially for higher earners. Check your ETEAEP balance periodically on the e-EFKA portal to verify contributions have been correctly recorded by your employer.
Frequently asked questions
What is the ETEAEP supplementary pension in Greece?
ETEAEP (Eniaio Tameio Epikourikis Asfalisis kai Efipahs) is the unified supplementary pension fund for most private-sector employees in Greece. It operates on a notional-accounts (funded on paper) basis introduced by Law 4387/2016. Employee contributions of 3.5% and employer contributions of 3.5% of insurable earnings are credited to a virtual individual account each month. These virtual balances earn a credited interest rate set annually. At retirement, the accumulated notional capital is divided by a life-expectancy divisor to produce the monthly supplementary pension.
What credited return rate does ETEAEP use?
The credited return is linked to GDP growth and averages roughly 1.5% to 2% per year in the base scenario used by Greek actuaries. The rate is reviewed annually by the Ministry of Labour. Because the system is notional rather than truly funded, the credited return does not reflect real investment performance but is a policy parameter set by government. In this calculator you can adjust the assumed credited rate to model optimistic or conservative scenarios.
How is the notional capital converted to a monthly pension?
At retirement, ETEAEP divides the accumulated notional capital by a life-expectancy divisor (annuity factor). This divisor reflects remaining life expectancy at the retirement age and is recalculated periodically. For retirement at age 67 in 2026, the divisor is approximately 20 years (240 months) for a standard male life table. The resulting quotient, divided by 12, gives the monthly supplementary pension before any withholding taxes or healthcare contributions.
Can I get both EFKA main pension and ETEAEP supplementary pension?
Yes, most Greek private-sector employees who contributed to the old IKA and ETEAM funds automatically have entitlements in both EFKA (main pension) and ETEAEP (supplementary pension). The two pensions are paid separately and cumulate. Self-employed and freelance workers under EFKA-e-EFOEA may have different supplementary arrangements. Checking your personal insurance history on the e-EFKA portal (efka.gov.gr) is the most reliable way to confirm your entitlements and contribution history.